Las Vegas Sands Corp (LVS) Financial Statements
Industry: Hotels & Motels
In fiscal 2025, Las Vegas Sands reported revenue of $13.02B, up 15.2% from $11.30B the year before. Net income was $1.63B (a 12.5% net margin), or $2.35 per diluted share. Gross margin was 21.6% and operating margin was 21.6%. Operating activities generated $3.02B of cash, leaving $1.85B of free cash flow. At fiscal year end, Las Vegas Sands held $21.92B in total assets against $19.99B in total liabilities, including $3.84B of cash and equivalents.
Open the full interactive Las Vegas Sands financials → Quarterly statements, key ratios, valuation history and price charts.
Las Vegas Sands Key Stats
| Share Price | $37.04 |
|---|---|
| Market Cap | $24.30B |
| P/E Ratio | 15.8 |
| Dividend Yield | 3.43% |
| Revenue YoY Growth | +15.2% |
| 52-Week Range | $35.81 – $68.29 |
| Shares Outstanding | 654.0 million (basic, 2026 Q2) |
Las Vegas Sands Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $3.61B | $4.23B | $4.11B | $10.37B | $11.30B | $13.02B |
| Cost of Goods Sold | $5.30B | $4.92B | $4.90B | $8.06B | $8.90B | $10.20B |
| Gross Profit | -$1.69B | -$689.0M | -$792.0M | $2.31B | $2.40B | $2.82B |
| Operating Income | -$1.69B | -$689.0M | -$792.0M | $2.31B | $2.40B | $2.82B |
| Pre-Tax Income | -$2.18B | -$1.47B | -$1.39B | $1.77B | $1.96B | $2.21B |
| Income Tax | -$38.0M | -$5.0M | $154.0M | $344.0M | $208.0M | $347.0M |
| Net Income | -$1.69B | -$961.0M | $1.83B | $1.22B | $1.45B | $1.63B |
| Diluted EPS | -$2.21 | -$1.26 | $2.40 | $1.60 | $1.96 | $2.35 |
Las Vegas Sands Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $3.33B | $3.65B | $3.58B | $3.15B |
| Net Income | $419.0M | $395.0M | $567.0M | $346.0M |
| Diluted EPS | $0.61 | $0.57 | $0.85 | $0.53 |
Las Vegas Sands Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.12B | $1.85B | $6.31B | $5.11B | $3.65B | $3.84B |
| Current Assets | $2.64B | $5.51B | $6.74B | $5.78B | $4.29B | $4.83B |
| Total Assets | $20.81B | $20.06B | $22.04B | $21.78B | $20.67B | $21.92B |
| Current Liabilities | $2.31B | $2.56B | $3.90B | $4.42B | $5.80B | $4.22B |
| Total Long-Term Debt | $14.01B | $14.79B | $15.98B | $14.03B | $13.75B | $15.78B |
| Total Liabilities | $17.27B | $17.81B | $18.38B | $17.67B | $17.51B | $19.99B |
| Shareholders' Equity | $2.97B | $2.00B | $3.88B | $4.12B | $2.88B | $1.59B |
Las Vegas Sands Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$1.31B | -$243.0M | -$944.0M | $3.23B | $3.20B | $3.02B |
| Cash From Investing | -$1.33B | — | — | — | — | -$1.22B |
| Cash From Financing | $560.0M | — | — | — | — | -$1.64B |
| Free Cash Flow | -$2.64B | -$1.07B | -$1.59B | $2.21B | $1.64B | $1.85B |
| Dividends Paid | $911.0M | $0 | $0 | $305.0M | $590.0M | $833.0M |
Figures from Las Vegas Sands' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Las Vegas Sands financials page for every line item.
Las Vegas Sands Company Profile
| Ticker | LVS |
|---|---|
| Exchange | NYSE |
| Industry | Hotels & Motels |
| Headquarters | Las Vegas, Nevada |
| Incorporated in | Nevada |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001300514 |
Frequently Asked Questions
What was Las Vegas Sands' revenue in fiscal 2025?
Las Vegas Sands (LVS) reported revenue of $13.02B for fiscal 2025.
What is Las Vegas Sands' annual revenue history?
Las Vegas Sands' annual revenue by fiscal year: 2020: $3.61B; 2021: $4.23B; 2022: $4.11B; 2023: $10.37B; 2024: $11.30B; 2025: $13.02B.
What was Las Vegas Sands' net income in fiscal 2025?
Las Vegas Sands reported net income of $1.63B for fiscal 2025.
What was Las Vegas Sands' earnings per share (EPS) in fiscal 2025?
Las Vegas Sands' diluted EPS was $2.35 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Las Vegas Sands generate in fiscal 2025?
Las Vegas Sands generated $1.85B of free cash flow in fiscal 2025.
What was Las Vegas Sands' revenue last quarter?
In its most recent reported quarter (2026 Q2), Las Vegas Sands reported revenue of $3.15B.
How much debt does Las Vegas Sands have?
Las Vegas Sands reported $15.78B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Las Vegas Sands are outstanding?
Las Vegas Sands reported a weighted average of 654.0 million basic shares outstanding in 2026 Q2.
What is Las Vegas Sands' market cap?
Based on its latest closing price, Las Vegas Sands (LVS) has a market capitalization of about $24.30B.
When does Las Vegas Sands' fiscal year end?
Las Vegas Sands' fiscal year end, as registered with the SEC, is December 31.
Where is Las Vegas Sands headquartered?
Las Vegas Sands lists its business address in Las Vegas, Nevada in its SEC filings.